Stay invested in Tata Motors, says Mehraboon Irani, Nirmal Bang Securities.
Irani told CNBC-TV18, "I have always stated that Tata Motors has become a global company. One should not be seeing the domestic sales and why I used the unfortunately because I have been saying it as a dark horse. I should have been more aggressive in my recommendations somewhere I feel. I think in the auto pack – looking at what is happening especially in the passenger car sales, I am talking of India and Commercial Vehicle (CV) segment not showing too many signs of any improvement."
He further added, "I would definitely like to remain invested and advice investors to remain invested in Tata Motors. I still feel the best is yet to come for Tata Motors in terms of its performance on the Jaguar Land Rover (JLR) front and a whole lot of products in the pipeline, which will be launched."
"If you look at China’s numbers, which have been announced today and if we have any reasons to believe that China could improve and Europe could be a very different story 2-3 years later - I think there are reasons to be confident as far as Tata Motors goes over the longer term. The stock has gone up too sharply, especially because of two recent upgrades by two leading foreign brokerage houses."